« previous next »

Author Question: When total revenue reaches its peak (elasticity equals 1), marginal revenue reaches A) 1. B) ... (Read 75 times)

craiczarry

  • Hero Member
  • *****
  • Posts: 527
on: Jul 1, 2018
When total revenue reaches its peak (elasticity equals 1), marginal revenue reaches
 
  A) 1.
  B) zero.
  C) -1.
  D) Cannot be determined from the information provided

Question 2

The above figure shows the market for crude oil. If the oil exploration firms convince the government to set a minimum price of 4 per barrel, then
 
  A) 100 barrels of crude oil will be sold at 4.
  B) zero barrels of crude oil will be sold.
  C) zero barrels of crude oil will be demanded.
  D) None of the above.


jamesnevil303

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

The spectrum generated (b) is a family of peaks, with each successive peak The spectrum generated (b) is a family of peaks, with each successive peak
Genetics of Widow's Peak Genetics of Widow's Peak
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
Peak flow meter. Peak flow meter.
Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012 Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012
Finding the length given total distance and distance longer than other point Finding the length given total distance and distance longer than other point
Video: Summary of female reproductive cycle days 1-28

For a complete list of videos, visit our video library